Income Tax

The traditional distinction between employees and independent contractors is discouraging companies from offering gig economy workers important support, particularly when it comes to taxes. That'd according to Joseph Kennedy, senior fellow at the ...

As a result of the Labor Department's new overtime rules, management positions in restaurants will disappear, limiting career advancement and hurting restaurant employees and owners, according to the National Council of Chain Restaurants.

Most expatriate U.S. citizens need to file by June 15, 2016. Taxpayers who need to file an FBAR (Foreign Bank and Financial Account Report) must file by June 30. More than 1 million taxpayers filed an FBAR in 2015. Taxpayers with foreign assets, even ...

A couple of Texas tycoons who lived life high on the hog have been found guilty of tax fraud. A U.S. bankruptcy court ruled that two brothers and business associates, Sam and the now-deceased Charles Wyly, used complex offshore trusts and shell ...

Like a bad penny, the IRS-Tea Party scandal won’t go away. Now some Republican lawmakers are calling for the impeachment of IRS Commissioner John Koskinen over his handling of the affair, accusing ...

Thomson Reuters has released a special report, What to Do If Your Client is a Victim of Tax-Related Identity Theft, which provides helpful guidance for tax professionals advising victims of tax-related identity theft.

The IRS is reminding these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Forms 990, and consider taking advantage of the speed and convenience of electronic filing.

She reported gross receipts of only $325, while claiming $16,131 in expenses, consisting of $13,000 in rent, $590 of hair products, $909 for a landline phone service, $600 for website maintenance, $552 for cellphone expenses and $480 for supplies.